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Cipher Mining Inc ia an emerging technology company that operates in the Bitcoin mining ecosystem in the United States. The company is developing a cryptocurrency mining business, specializing in Bitcoin. The company is expanding and strengthening the Bitcoin network’s critical infrastructure in the United States.
2021
43
LTM Revenue $189M
LTM EBITDA $76.7M
$933M
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Cipher Mining has a last 12-month revenue of $189M and a last 12-month EBITDA of $76.7M.
In the most recent fiscal year, Cipher Mining achieved revenue of $151M and an EBITDA of $61.1M.
Cipher Mining expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Cipher Mining valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $127M | $151M | XXX | XXX | XXX |
| Gross Profit | $2.3M | $76.5M | XXX | XXX | XXX |
| Gross Margin | 2% | 51% | XXX | XXX | XXX |
| EBITDA | $39.7M | $61.1M | XXX | XXX | XXX |
| EBITDA Margin | 31% | 40% | XXX | XXX | XXX |
| Net Profit | -$39.1M | -$25.8M | XXX | XXX | XXX |
| Net Margin | -31% | -17% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Cipher Mining's stock price is $2.
Cipher Mining has current market cap of $882M, and EV of $933M.
See Cipher Mining trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $933M | $882M | XXX | XXX | XXX | XXX | $-0.16 |
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Sign UpAs of April 15, 2025, Cipher Mining has market cap of $882M and EV of $933M.
Cipher Mining's trades at 4.9x LTM EV/Revenue multiple, and 12.2x LTM EBITDA.
Analysts estimate Cipher Mining's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Cipher Mining and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $933M | XXX | XXX | XXX |
| EV/Revenue | 6.2x | XXX | XXX | XXX |
| EV/EBITDA | 15.3x | XXX | XXX | XXX |
| P/E | -19.8x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -2.4x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpCipher Mining's NTM/LTM revenue growth is 86%
Cipher Mining's revenue per employee for the last fiscal year averaged $3.5M, while opex per employee averaged $2.9M for the same period.
Over next 12 months, Cipher Mining's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Cipher Mining's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Cipher Mining and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 19% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 40% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 54% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 126% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $3.5M | XXX | XXX | XXX | XXX |
| Opex per Employee | $2.9M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 22% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 84% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Phoenix Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Jasmine Technology Solution | XXX | XXX | XXX | XXX | XXX | XXX |
| Advanced Blockchain | XXX | XXX | XXX | XXX | XXX | XXX |
| Bitcoin Group | XXX | XXX | XXX | XXX | XXX | XXX |
| AEE Gold | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Cipher Mining acquired XXX companies to date.
Last acquisition by Cipher Mining was XXXXXXXX, XXXXX XXXXX XXXXXX . Cipher Mining acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Cipher Mining founded? | Cipher Mining was founded in 2021. |
| Where is Cipher Mining headquartered? | Cipher Mining is headquartered in United States of America. |
| How many employees does Cipher Mining have? | As of today, Cipher Mining has 43 employees. |
| Who is the CEO of Cipher Mining? | Cipher Mining's CEO is Mr. Tyler Page. |
| Is Cipher Mining publicy listed? | Yes, Cipher Mining is a public company listed on NAS. |
| What is the stock symbol of Cipher Mining? | Cipher Mining trades under CIFR ticker. |
| When did Cipher Mining go public? | Cipher Mining went public in 2021. |
| Who are competitors of Cipher Mining? | Similar companies to Cipher Mining include e.g. Phoenix Group, Jasmine Technology Solution, Advanced Blockchain, Bitcoin Group. |
| What is the current market cap of Cipher Mining? | Cipher Mining's current market cap is $882M |
| What is the current revenue of Cipher Mining? | Cipher Mining's last 12-month revenue is $189M. |
| What is the current EBITDA of Cipher Mining? | Cipher Mining's last 12-month EBITDA is $76.7M. |
| What is the current EV/Revenue multiple of Cipher Mining? | Current revenue multiple of Cipher Mining is 4.9x. |
| What is the current EV/EBITDA multiple of Cipher Mining? | Current EBITDA multiple of Cipher Mining is 12.2x. |
| What is the current revenue growth of Cipher Mining? | Cipher Mining revenue growth between 2023 and 2024 was 19%. |
| Is Cipher Mining profitable? | Yes, Cipher Mining is EBITDA-positive (as of the last 12 months). |
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